The startup offers a digital financial platform that utilizes natural language processing and optical character recognition to automate tax return processes for accountants, companies, and government agencies. By streamlining data collection and operations, the platform enables employees to efficiently complete their tax returns and maximize their refunds.
Funding
$4.1M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many salaried individuals in Israel are eligible for tax refunds due to changes in employment, academic achievements, mortgage payments, or periods of unemployment, but are unaware of this potential benefit. The process of manually collecting documents and filing a tax return can be complex and time-consuming, deterring individuals from claiming their refunds.
Solution
Fibo provides a digital service that simplifies the process of claiming income tax refunds for eligible individuals in Israel. The platform automates data collection by using a short digital questionnaire to gather relevant information, saving users from bureaucratic hurdles. Fibo then calculates the potential refund amount for the past six years and prepares the necessary forms for submission to the tax authorities. The service is offered at a competitive fee, charged only after the refund is successfully deposited into the user's bank account.
Target Audience
The primary target audience is salaried employees in Israel who may be eligible for income tax refunds due to various life events and changes in their financial circumstances.
Features
- Digital questionnaire for automated data collection and eligibility assessment
- Calculation of potential tax refund amounts for the past six years
- Preparation and submission of required forms to tax authorities
- Secure data handling and privacy protection
- Integration with tax authority systems for efficient processing
- Customer support via email and WhatsApp